Akebia (AKBA) CEO John Butler receives major stock and option grants

Rhea-AI Filing Summary

Akebia Therapeutics CEO and President John P. Butler reported new equity awards on January 30, 2026. He received 743,000 shares of common stock as restricted stock units at a price of $0.00 per share, bringing his directly held common stock to 3,463,849 shares.

He was also granted a stock option for 1,115,000 shares at an exercise price of $1.41 per share, expiring on 01/30/2036. These options vest over four years, while the restricted stock units vest in three equal annual installments, both subject to his continued service. An additional 159,928 shares are held indirectly through the Dorothy Butler Revocable Trust.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Butler John P.

Role CEO and President

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to buy)	1,115,000	$0.00	--
Grant/Award	Common Stock	743,000	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option (Right to buy) — 1,115,000 shares (Direct); Common Stock — 3,463,849 shares (Direct); Common Stock — 159,928 shares (Indirect, Held by Dorothy Butler Revocable Trust November 20, 2007)

Footnotes (1)

1. The restricted stock units were granted by the Issuer pursuant to its 2023 Stock Incentive Plan, as amended. One third of the restricted stock units will vest on each of the first, second and third anniversaries of the grant date, subject to the reporting person's continued service with the Issuer on each vesting date. Includes 159,928 shares previously held by John Butler 2019 GRAT, and 1,500 shares of the Issuer's common stock purchased on June 30, 2025 and 1,500 shares of the Issuer's common stock purchased on December 31, 2025, each under the Issuer's Amended and Restated 2014 Employee Stock Purchase Plan. The options were granted by the Issuer pursuant to its 2023 Stock Incentive Plan, as amended. The options will vest over four years: 25% of the options will vest on the first anniversary of the grant date with the remaining 75% vesting in equal quarterly installments thereafter, subject to the reporting person's continued service with the Issuer on each vesting date.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Butler John P.

(Last) (First) (Middle)

C/O AKEBIA THERAPEUTICS, INC.

245 FIRST STREET

(Street)

CAMBRIDGE MA 02142

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Akebia Therapeutics, Inc. [ AKBA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and President

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/30/2026		A		743,000(1)	A	$0.00	3,463,849(2)	D
Common Stock								159,928	I	Held by Dorothy Butler Revocable Trust November 20, 2007

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to buy)	$1.41	01/30/2026		A		1,115,000		(3)	01/30/2036	Common Stock	1,115,000	$0.00	1,115,000	D

Explanation of Responses:

1. The restricted stock units were granted by the Issuer pursuant to its 2023 Stock Incentive Plan, as amended. One third of the restricted stock units will vest on each of the first, second and third anniversaries of the grant date, subject to the reporting person's continued service with the Issuer on each vesting date.

2. Includes 159,928 shares previously held by John Butler 2019 GRAT, and 1,500 shares of the Issuer's common stock purchased on June 30, 2025 and 1,500 shares of the Issuer's common stock purchased on December 31, 2025, each under the Issuer's Amended and Restated 2014 Employee Stock Purchase Plan.

3. The options were granted by the Issuer pursuant to its 2023 Stock Incentive Plan, as amended. The options will vest over four years: 25% of the options will vest on the first anniversary of the grant date with the remaining 75% vesting in equal quarterly installments thereafter, subject to the reporting person's continued service with the Issuer on each vesting date.

Remarks:

	/s/ Carolyn M. Rucci, attorney-in-fact for John P. Butler	02/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Akebia (AKBA) CEO John P. Butler report on this Form 4?

John P. Butler reported new equity awards from Akebia, including restricted stock units and stock options. The filing shows compensation-related grants rather than stock sales, increasing his direct and indirect holdings in the company’s common stock as part of its stock incentive and employee plans.

How many Akebia (AKBA) shares were granted to the CEO as restricted stock units?

John P. Butler received 743,000 shares of Akebia common stock as restricted stock units at a grant price of zero. These vest in three equal annual installments on the first, second, and third anniversaries of the grant date, contingent on his continued service with the company.

What stock options did the Akebia (AKBA) CEO receive and on what terms?

He received stock options for 1,115,000 Akebia shares with a $1.41 exercise price, expiring on 01/30/2036. Twenty-five percent vest on the first anniversary of the grant date, with the remaining seventy-five percent vesting in equal quarterly installments, subject to continued service.

How many Akebia (AKBA) shares does John P. Butler own after these transactions?

After the grants, he directly holds 3,463,849 shares of Akebia common stock. He also has 1,115,000 stock options outstanding and 159,928 additional shares held indirectly through the Dorothy Butler Revocable Trust, reflecting both direct and indirect beneficial ownership positions.

Under which plans were the Akebia (AKBA) CEO’s new awards granted?

The restricted stock units and stock options were granted under Akebia’s 2023 Stock Incentive Plan, as amended. The filing also notes prior share purchases under the company’s Amended and Restated 2014 Employee Stock Purchase Plan, contributing to his total beneficial share ownership.